Zacks: Analysts Expect Apollo Investment Corporation (AINV) Will Announce Quarterly Sales of $68.53 Million
Analysts predict that Apollo Investment Corporation (NASDAQ:AINV) will report $68.53 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Apollo Investment Corporation’s earnings, with the lowest sales estimate coming in at $64.23 million and the highest estimate coming in at $70.73 million. Apollo Investment Corporation reported sales of $69.03 million during the same quarter last year, which indicates a negative year over year growth rate of 0.7%. The firm is expected to announce its next earnings results on Tuesday, November 14th.
On average, analysts expect that Apollo Investment Corporation will report full year sales of $68.53 million for the current fiscal year, with estimates ranging from $267.26 million to $279.00 million. For the next year, analysts anticipate that the business will report sales of $287.53 million per share, with estimates ranging from $277.10 million to $298.47 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Apollo Investment Corporation.
Apollo Investment Corporation (NASDAQ:AINV) last announced its earnings results on Friday, August 4th. The asset manager reported $0.15 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.15. Apollo Investment Corporation had a net margin of 33.04% and a return on equity of 9.75%. The business had revenue of $66.70 million for the quarter, compared to the consensus estimate of $65.19 million. During the same quarter in the prior year, the firm posted $0.17 earnings per share. The business’s revenue for the quarter was down 12.8% on a year-over-year basis.
AINV has been the topic of a number of research reports. Jefferies Group LLC restated a “buy” rating and issued a $7.00 price objective on shares of Apollo Investment Corporation in a report on Friday, July 14th. Zacks Investment Research upgraded Apollo Investment Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Keefe, Bruyette & Woods set a $7.00 price objective on Apollo Investment Corporation and gave the stock a “hold” rating in a report on Wednesday, May 31st. BMO Capital Markets restated a “hold” rating and issued a $6.00 price objective on shares of Apollo Investment Corporation in a report on Thursday, May 18th. Finally, National Securities restated a “neutral” rating and issued a $6.00 price objective on shares of Apollo Investment Corporation in a report on Thursday, May 18th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $6.33.
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Several institutional investors have recently added to or reduced their stakes in the company. Karp Capital Management Corp purchased a new position in Apollo Investment Corporation during the first quarter worth approximately $101,000. Atria Investments LLC bought a new stake in shares of Apollo Investment Corporation during the second quarter valued at approximately $103,000. GAM Holding AG increased its stake in shares of Apollo Investment Corporation by 2.7% in the second quarter. GAM Holding AG now owns 16,652 shares of the asset manager’s stock valued at $106,000 after buying an additional 441 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Apollo Investment Corporation by 0.3% in the second quarter. Rhumbline Advisers now owns 16,708 shares of the asset manager’s stock valued at $107,000 after buying an additional 58 shares during the last quarter. Finally, Essex Financial Services Inc. bought a new stake in shares of Apollo Investment Corporation during the second quarter valued at approximately $112,000. Institutional investors own 45.82% of the company’s stock.
Shares of Apollo Investment Corporation (NASDAQ AINV) traded down 0.50% during midday trading on Friday, hitting $6.03. 692,743 shares of the stock traded hands. The company’s 50 day moving average price is $6.32 and its 200-day moving average price is $6.39. Apollo Investment Corporation has a 12-month low of $5.65 and a 12-month high of $6.82.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Thursday, September 21st will be issued a $0.15 dividend. The ex-dividend date is Wednesday, September 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 9.95%. Apollo Investment Corporation’s dividend payout ratio (DPR) is 150.00%.
Apollo Investment Corporation Company Profile
Apollo Investment Corporation is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation. It invests primarily in various forms of debt investments, including secured and unsecured debt, loan investments and/or equity in private middle-market companies.
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